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Leasing vs. Buying

at Ashland Ford Chrysler

After deciding that it's time for a new vehicle, the next question in your mind might be, "Should I buy or lease?" We're here at Ashland Ford Chrysler to help make that decision a bit easier. Continue reading and maybe you will get a little more insight on whether buying or leasing a car is right for you!

Every few years you enjoy driving a new vehicle

One of the biggest attractions behind leasing a car is that every few years you get to drive a new vehicle. If you're someone who likes the latest car models, technology, or even safety features, leasing would be a great option for you.

You're driving long distances

Usually, there is a limit on the number of miles you can put on your leased vehicle. While you can buy extra miles, there is a per mile charge if you happen to go over. If you're using your car for a lot of long-distance driving, road trips, or long-distance travel, you may want to reconsider as the mileage limit may not work for your benefit.

Lower monthly payments are your top priority

When you lease a car, you only pay to use the car for a, contractually agreed upon, number of years. That's why your monthly payments are much lower because the total you pay is much lower than the whole vehicle's cost. If being able to sell or trade in your vehicle at the end of the day is not a concern for you, maybe it is a plus, then leasing is probably a good option for you.

Your vehicle needs could change quickly

There are a variety of factors that may cause you to need a different vehicle sooner than later and these situations are always difficult to predict. Usually, if you decide to terminate the lease early, you are only responsible for termination charges. On the other hand, if you bought the car and still owe money on the loan, you might end up paying more than the vehicle's total value.

To learn more about the pros and cons of leasing and buying, contact our friendly team at Ashland Ford Chrysler today! We are ready to help you figure out if buying or leasing is the best option for you. Come in and see us! Get started with your new lease or new car purchase!